Nowell Meller Solicitors Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05536577 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

NOWELL MELLER SOLICITORS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mrs D F Hackney

S P Kirwan

Mrs J A Matthewman

REGISTERED OFFICE:

7-8 St. Mary's Grove

Stafford

Staffordshire

ST16 2AT

REGISTERED NUMBER:

05536577 (England and Wales)

ACCOUNTANTS:

Poole Waterfield Limited

Priory House

2 Priory Road

Dudley

West Midlands

DY1 1HH

BANKERS:

Lloyds Bank PLC

Fountain Square

Hanley

Stoke-on-Trent

ST1 1LE

FIXED ASSETS

Intangible assets

2

154,841

172,045

Tangible assets

3

40,212

53,616

195,053

225,661

CURRENT ASSETS

Debtors

4

604,986

581,534

Cash at bank and in hand

795

294

605,781

581,828

CREDITORS

Amounts falling due within one year

5

536,238

540,938

NET CURRENT ASSETS

69,543

40,890

TOTAL ASSETS LESS CURRENT
LIABILITIES

264,596

266,551

CREDITORS

Amounts falling due after more than one
year

5

591,600

617,114

NET LIABILITIES

(327,004

)

(350,563

)

CAPITAL AND RESERVES

Called up share capital

6

Profit and loss account

(327,010

)

(350,569

)

SHAREHOLDERS' FUNDS

(327,004

)

(350,563

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 March 2017 and were signed on its
behalf by:

S P Kirwan - Director

Mrs J A Matthewman - Director

Mrs D F Hackney - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, and movements in

work in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business of Nowell Meller

Solicitors on 1 November 2005, is being amortised evenly over its estimated life of twenty years, and

goodwill in relation to the acquisition of Arthur Boulton & Son Solicitors on 1 November 2007 which

is being amortised evenly over its estimated useful life of eighteen years.

Work in progress

Work in progress is accounted and defined in UITF 40 as issued by the ASB. It is the company policy

to recognise revenue over the time of a contract as it progresses with reference to the value of work

performed and with regard to contractual obligations. In respect of fixed fee work which is unbilled at

the year end it is the company's policy to recognise the full amount of the fee as income. Work in

progress is shown as ''Amounts recoverable on contracts''.

Going concern

The financial statements of the company have been prepared on a going concern basis. The validity

of this basis depends upon the continued financial support of its bankers and principal creditors.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

305,000

AMORTISATION

At 1 November 2015

132,955

Amortisation for year

17,204

At 31 October 2016

150,159

NET BOOK VALUE

At 31 October 2016

154,841

At 31 October 2015

172,045

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

265,005

DEPRECIATION

At 1 November 2015

211,389

Charge for year

13,404

At 31 October 2016

224,793

NET BOOK VALUE

At 31 October 2016

40,212

At 31 October 2015

53,616

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 202,151 (31.10.15 - £ 189,709

)

5.

CREDITORS

Creditors include an amount of £ 651,351 (31.10.15 - £ 672,411 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.10.16

31.10.15

£

Repayable otherwise than by instalments

145,601

146,594

Repayable by instalments

139,932

180,199

285,533

326,793

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

6

Ordinary

£1

6

7.	TRANSACTIONS WITH DIRECTORS

31.10.16

31.10.15

£

Mrs J A Matthewman

Balance outstanding at start of year

78,114

89,462

Amounts advanced

25,881

28,452

Amounts reallocated to other participators

(4,800

)

(4,800

)

Amounts repaid

(17,250

)

(35,000

)

Balance outstanding at end of year

81,945

78,114

S P Kirwan

Balance outstanding at start of year

69,458

81,238

Amounts advanced

23,481

25,644

Amounts reallocated from J A Matthewman

2,400

Amounts repaid

(17,270

)

(39,824

)

Balance outstanding at end of year

78,069

69,458

The balances in respect of the directors current accounts of £160,014 (2015 - £147,572) are regarded

as amounts falling due after more than one year.

The loans in respect of the directors are unsecured and interest free.